XRP has formed a textbook cup-and-handle pattern on the hourly chart. It's currently working on forming the handle. I've placed what is known as a 'suicide' trade, meaning that if it fails, you lose everything you risked, but if it succeeds, you can make a fantastic profit.
I would generally never make a trade like this, as they are too risky. However, with the cup-and-handle formation identified, these moves tend to be a bit more predictable. Since I’ve gained over $1,700 in the past three trading days, I’m willing to take a little risk here.
Don’t follow my trades; come up with your own ideas. Don’t be a follower—be a trailblazer!
Good luck!
Trade active
Limit Buy Order filled on the Aug 21st, 7 a.m. hourly candle.
Comment
This trade is going very well thus far, and the price has broken out of the handle wedge. The handle may have to be adjusted a bit, assuming the price pulls back and chops around a bit, but overall it's looking very bullish here.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.